The endowment effect suggests that that people
A) are concerned about the welfare of others.
B) act in ways to distort market prices.
C) have a strong attachment to their entitlement, regardless of whether they paid to acquire it.
D) have a strong sense of fairness.
C
Economics
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During the last three decades, the real (adjusted for inflation) expenditures
a. on Medicare have grown rapidly, but the real expenditures on Medicaid have been virtually constant. b. on the Medicare program have been virtually constant but the real expenditures on Medicaid have increased substantially. c. on both Medicare and Medicaid have increased substantially. d. on both Medicare and Medicaid have been virtually constant.
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